NEEGX vs. NESIX

Last updated Jun 4, 2026

NEEGX (Needham Growth Fund) and NESIX (Needham Small Cap Growth Fund Institutional) are both mutual funds - NEEGX is a Mid Cap Growth Equities fund managed by Needham, while NESIX is a Small Cap Growth Equities fund managed by Needham. Over the past 5 years, NEEGX returned 14.97%/yr vs 10.97%/yr for NESIX. Their correlation of 0.89 suggests significant overlap in exposure. NEEGX charges 1.78%/yr vs 1.18%/yr for NESIX.

Performance

NEEGX vs. NESIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Needham Growth Fund (NEEGX) and Needham Small Cap Growth Fund Institutional (NESIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NEEGX achieves a 59.35% return, which is significantly lower than NESIX's 82.25% return.

NEEGX

• 1D: 4.73%
• 1M: 16.94%
• YTD: 59.35%
• 6M: 56.93%
• 1Y: 97.40%
• 3Y*: 28.72%
• 5Y*: 14.97%
• 10Y*: 16.37%

NESIX

• 1D: 4.01%
• 1M: 22.94%
• YTD: 82.25%
• 6M: 79.70%
• 1Y: 125.34%
• 3Y*: 33.75%
• 5Y*: 10.97%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

NEEGX vs. NESIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NEEGX Needham Growth Fund	59.35%	8.76%	14.45%	26.85%	-33.57%	27.63%	41.73%	42.33%	-10.56%	7.91%
NESIX Needham Small Cap Growth Fund Institutional	82.25%	11.16%	13.47%	5.85%	-29.71%	11.36%	73.06%	55.28%	-4.87%	12.63%

Correlation

The correlation between NEEGX and NESIX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.89

The correlation between NEEGX and NESIX has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

Return for Risk

NEEGX vs. NESIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NEEGX

NEEGX Risk / Return Rank: 93
NEEGX Sharpe Ratio Rank: 98
NEEGX Sortino Ratio Rank: 89
NEEGX Omega Ratio Rank: 84
NEEGX Calmar Ratio Rank: 98
NEEGX Martin Ratio Rank: 97

NESIX

NESIX Risk / Return Rank: 95
NESIX Sharpe Ratio Rank: 99
NESIX Sortino Ratio Rank: 93
NESIX Omega Ratio Rank: 88
NESIX Calmar Ratio Rank: 98
NESIX Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NEEGX vs. NESIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Needham Growth Fund (NEEGX) and Needham Small Cap Growth Fund Institutional (NESIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	NEEGX	NESIX	Difference
Sharpe ratio: Return per unit of total volatility	3.79	4.41	-0.62
Sortino ratio: Return per unit of downside risk	4.32	4.72	-0.40
Omega ratio: Gain probability vs. loss probability	1.56	1.61	-0.05
Calmar ratio: Return relative to maximum drawdown	7.75	7.79	-0.04
Martin ratio: Return relative to average drawdown	26.32	32.30	-5.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NEEGX vs. NESIX - Sharpe Ratio Comparison

The current NEEGX Sharpe Ratio is 3.79, which is comparable to the NESIX Sharpe Ratio of 4.41. The chart below compares the historical Sharpe Ratios of NEEGX and NESIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NEEGX	NESIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.79	4.41	-0.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.38	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.75	-0.16

Drawdowns

NEEGX vs. NESIX - Drawdown Comparison

The maximum NEEGX drawdown since its inception was -53.60%, which is greater than NESIX's maximum drawdown of -49.61%. Use the drawdown chart below to compare losses from any high point for NEEGX and NESIX.

Drawdown Indicators

	NEEGX	NESIX	Difference
Max Drawdown Largest peak-to-trough decline	-53.60%	-49.61%	-3.99%
Max Drawdown (1Y) Largest decline over 1 year	-13.27%	-17.12%	+3.85%
Max Drawdown (3Y) Largest decline over 3 years	-38.66%	-35.21%	-3.45%
Max Drawdown (5Y) Largest decline over 5 years	-43.35%	-49.61%	+6.26%
Max Drawdown (10Y) Largest decline over 10 years	-43.35%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-10.89%	-15.00%	+4.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.90%	4.12%	-0.22%

Volatility

NEEGX vs. NESIX - Volatility Comparison

Needham Growth Fund (NEEGX) has a higher volatility of 9.71% compared to Needham Small Cap Growth Fund Institutional (NESIX) at 8.71%. This indicates that NEEGX's price experiences larger fluctuations and is considered to be riskier than NESIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NEEGX	NESIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.71%	8.71%	+1.00%
Volatility (6M) Calculated over the trailing 6-month period	20.91%	21.13%	-0.22%
Volatility (1Y) Calculated over the trailing 1-year period	27.12%	30.27%	-3.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.30%	29.29%	-0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.29%	26.44%	-1.15%

NEEGX vs. NESIX - Expense Ratio Comparison

NEEGX has a 1.78% expense ratio, which is higher than NESIX's 1.18% expense ratio.

Dividends

NEEGX vs. NESIX - Dividend Comparison

NEEGX's dividend yield for the trailing twelve months is around 4.75%, while NESIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NEEGX Needham Growth Fund	4.75%	7.57%	3.92%	0.00%	1.78%	6.92%	5.73%	11.31%	17.79%	9.70%	4.22%	6.74%
NESIX Needham Small Cap Growth Fund Institutional	0.00%	0.00%	0.00%	0.00%	3.93%	23.92%	13.26%	8.25%	21.96%	8.89%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NEEGX and NESIX in my portfolio?

With a correlation of 0.93, NEEGX and NESIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NEEGX or NESIX?

NEEGX has higher volatility (9.71%) compared to NESIX (8.71%). In terms of maximum drawdown, NEEGX dropped -53.60% vs NESIX's -49.61%.

Which has better risk-adjusted returns?

NESIX currently has the higher Sharpe Ratio (4.41 vs 3.79), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.